Himax Sells Its 14.5% Share of Chinese Display-Driver Chipmaker for $32 Million

Himax Technologies agreed to sell its 14.5 percent stake in a Chinese manufacturer of display-driver chips for $32 million, the company said in a Tuesday announcement. Himax didn’t identify the “investee company” or the buyer. It invested $9 million in the company in 2007 and 2008, but held no seats on the board and didn’t participate in its day-to-day management, it said. “Himax decided to dispose of the investment as it believed the strategic value of the investment has diminished.” The company said it will use proceeds from the sale to partially fund “this year’s heavy capital expenditure.”